Hurley Capital LLC Makes New $47,000 Investment in Schlumberger Limited (NYSE:SLB)

Hurley Capital LLC purchased a new position in shares of Schlumberger Limited (NYSE:SLB) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,113 shares of the oil and gas company’s stock, valued at approximately $47,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Vident Advisory LLC increased its position in Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after buying an additional 273 shares during the period. Glen Eagle Advisors LLC raised its holdings in shares of Schlumberger by 3.7% in the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 282 shares during the last quarter. Heritage Wealth Management Inc. Texas raised its holdings in shares of Schlumberger by 2.2% in the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock valued at $616,000 after buying an additional 318 shares during the last quarter. Wahed Invest LLC raised its holdings in shares of Schlumberger by 0.9% in the fourth quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company’s stock valued at $1,343,000 after buying an additional 319 shares during the last quarter. Finally, Financial Management Professionals Inc. raised its holdings in shares of Schlumberger by 2.0% in the first quarter. Financial Management Professionals Inc. now owns 16,851 shares of the oil and gas company’s stock valued at $704,000 after buying an additional 336 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SLB shares. Wells Fargo & Company cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Stifel Nicolaus reduced their target price on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 30th. Morgan Stanley reduced their target price on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Finally, Atb Cap Markets raised shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.28.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director directly owned 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 1.5%

Shares of SLB opened at $35.99 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average is $34.76 and its two-hundred day moving average is $37.36. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $48.81. The firm has a market capitalization of $48.95 billion, a P/E ratio of 12.33, a PEG ratio of 9.76 and a beta of 1.01.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.17%. Schlumberger’s payout ratio is currently 39.04%.

Schlumberger Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.